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Oil pares some losses, US crude remains above $41
Oil prices continued to fall on Tuesday, as the coronavirus crisis continues to escalate, which weighs down on the global demand, but oil pared some of its losses later, amid the US dollar's drop against its peers, and ahead of the US crude inventories data.
A technical committee from OPEC and its allies, known as OPEC+, recommended delaying any increase in output to face the coronavirus impact on demand.
The American Petroleum Institute will release its preliminary data on US crude inventories, and the Energy Information Administration will release its official report on Wednesday.
The dollar index fell against a basket of major currencies by 0.2% to 92.4 points as of 17:26 GMT, after hitting a high of 93.6 points and a low of 92.2 points.
As of 17:22 GMT, WTI crude December futures fell 0.4% to $41.1 a barrel, after hitting a high of $41.6 and a low of $40.5.
Brent January futures fell 0.7% to $43.5 a barrel, after hitting a high of $44.2 and a low of $43.08.
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